1989 Ed.]
Commodities Trading
[CAP. 250
35
54. Auditor to report to the Commission
An auditor appointed under section 52 or 53 shall, on the conclusion of the examination and audit in respect of which he was appointed, make a report thereon to the Commission.
(Amended 10 of 1989 s. 65)
55. Powers of auditors appointed by the Commission
(1) An auditor appointed under section 52 or 53 to examine and audit the books, accounts and records of a dealer may for the purpose of carrying out the examination and audit-
(a) examine on oath the dealer and, where the dealer is a corporation or firm, any director of the corporation or partner of the firm, as the case may be, and any of the dealer's employees and agents and any other auditor appointed under this Ordinance in relation to those books, accounts and records;
(b) require the dealer and, where the dealer is a corporation or firm, any director of the corporation or partner of the firm, as the case may be, and the dealer's employees and agents, to produce any books, accounts and records held by or on behalf of the dealer relating to his business;
(c) require an auditor appointed by the dealer to produce any books, accounts and records held by him relating to the business of the dealer;
(d) require a clearing house to produce any books, accounts and records kept by it relating to the business of the dealer; (Amended 61 of 1985 s. 13)
(e) require a clearing house to provide any information in its possession relating to the business of the dealer; (Amended 61 of 1985 s. 13)
(f) employ such persons as he considers necessary to assist him to carry out the examination and audit; and
(g) by instrument in writing under his hand, authorize any person employed by him to do, in relation to the examination and audit, any act or thing that he could do himself as an auditor, except the examination of any person on oath, under this subsection.
(2) Any person who, without reasonable excuse, refuses or fails to answer any question put to him, or fails to comply with any request made to him, by an auditor appointed under section 52 or 53 or person authorized under subsection (1)(g) shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 2 years.